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Fair value of financial instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Fair Value Disclosures |
Fair Value By Balance Sheet Grouping Text Block |
|  | December 31, 2018
| Carrying |  |  |  |
(In thousands) | amount | Level 1 | Level 2 | Level 3 | Fair value
Financial Assets: |  |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 394,035 | $ | 394,035 | $ | - | $ | - | $ | 394,035
Money market investments |  | 4,171,048 |  | 4,161,832 |  | 9,216 |  | - |  | 4,171,048
Trading account debt securities, excluding |  |  |  |  |  |  |  |  |  |
| derivatives[1] |  | 37,787 |  | 6,278 |  | 30,370 |  | 1,139 |  | 37,787
Debt securities available-for-sale[1] |  | 13,300,184 |  | 2,719,740 |  | 10,579,211 |  | 1,233 |  | 13,300,184
Debt securities held-to-maturity: |  |  |  |  |  |  |  |  |  |
| Obligations of Puerto Rico, States |  |  |  |  |  |  |  |  |  |
| and political subdivisions | $ | 89,459 | $ | - | $ | - | $ | 90,534 | $ | 90,534
| Collateralized mortgage |  |  |  |  |  |  |  |  |  |
| obligation-federal agency |  | 55 |  | - |  | - |  | 58 |  | 58
| Securities in wholly owned statutory |  |  |  |  |  |  |  |  |  |
| business trusts |  | 11,561 |  | - |  | 11,561 |  | - |  | 11,561
| Other |  | 500 |  | - |  | 500 |  | - |  | 500
Total debt securities |  |  |  |  |  |  |  |  |  |
| held-to-maturity | $ | 101,575 | $ | - | $ | 12,061 | $ | 90,592 | $ | 102,653
Equity securities: |  |  |  |  |  |  |  |  |  |
| FHLB stock | $ | 51,628 | $ | - | $ | 51,628 | $ | - | $ | 51,628
| FRB stock |  | 89,358 |  | - |  | 89,358 |  | - |  | 89,358
| Other investments |  | 14,598 |  | - |  | 13,296 |  | 5,539 |  | 18,835
Total equity securities | $ | 155,584 | $ | - | $ | 154,282 | $ | 5,539 | $ | 159,821
Loans held-for-sale | $ | 51,422 | $ | - | $ | - | $ | 52,474 | $ | 52,474
Loans not covered under loss sharing |  |  |  |  |  |  |  |  |  |
| agreement with the FDIC |  | 25,938,541 |  | - |  | - |  | 23,143,027 |  | 23,143,027
Mortgage servicing rights |  | 169,777 |  | - |  | - |  | 169,777 |  | 169,777
Derivatives |  | 13,603 |  | - |  | 13,603 |  | - |  | 13,603
|  | December 31, 2018
| Carrying |  |  |  |
(In thousands) | amount | Level 1 | Level 2 | Level 3 | Fair value
Financial Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |
| Demand deposits | $ | 32,093,274 | $ | - | $ | 32,093,274 | $ | - | $ | 32,093,274
| Time deposits |  | 7,616,765 |  | - |  | 7,392,698 |  | - |  | 7,392,698
Total deposits | $ | 39,710,039 | $ | - | $ | 39,485,972 | $ | - | $ | 39,485,972
Assets sold under agreements to |  |  |  |  |  |  |  |  |  |
| repurchase | $ | 281,529 | $ | - | $ | 281,535 | $ | - | $ | 281,535
Other short-term borrowings[2] | $ | 42 | $ | - | $ | 42 | $ | - | $ | 42
Notes payable: |  |  |  |  |  |  |  |  |  |
| FHLB advances | $ | 556,776 | $ | - | $ | 553,111 | $ | - | $ | 553,111
| Unsecured senior debt securities |  | 294,039 |  | - |  | 302,664 |  | - |  | 302,664
| Junior subordinated deferrable |  |  |  |  |  |  |  |  |  |
| interest debentures (related to |  |  |  |  |  |  |  |  |  |
| trust preferred securities) |  | 384,875 |  | - |  | 381,079 |  | - |  | 381,079
| Capital lease obligations |  | 20,412 |  | - |  | - |  | 20,412 |  | 20,412
Total notes payable | $ | 1,256,102 | $ | - | $ | 1,236,854 | $ | 20,412 | $ | 1,257,266
Derivatives | $ | 12,320 | $ | - | $ | 12,320 | $ | - | $ | 12,320
|  | December 31, 2017
| Carrying |  |  |  |
(In thousands) | amount | Level 1 | Level 2 | Level 3 | Fair value
Financial Assets: |  |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 402,857 | $ | 402,857 | $ | - | $ | - | $ | 402,857
Money market investments |  | 5,255,119 |  | 5,245,346 |  | 9,773 |  | - |  | 5,255,119
Trading account debt securities, excluding |  |  |  |  |  |  |  |  |  |
| derivatives[1] |  | 33,746 |  | 261 |  | 32,384 |  | 1,101 |  | 33,746
Debt securities available-for-sale[1] |  | 10,176,923 |  | 503,385 |  | 9,672,250 |  | 1,288 |  | 10,176,923
Debt securities held-to-maturity: |  |  |  |  |  |  |  |  |  |
| Obligations of Puerto Rico, States |  |  |  |  |  |  |  |  |  |
| and political subdivisions | $ | 92,754 | $ | - | $ | - | $ | 83,239 | $ | 83,239
| Collateralized mortgage |  |  |  |  |  |  |  |  |  |
| obligation-federal agency |  | 67 |  | - |  | - |  | 71 |  | 71
| Securities in wholly owned statutory |  |  |  |  |  |  |  |  |  |
| business trusts |  | 13,198 |  | - |  | 13,198 |  | - |  | 13,198
| Other |  | 1,000 |  | - |  | 750 |  | 243 |  | 993
Total debt securities |  |  |  |  |  |  |  |  |  |
| held-to-maturity | $ | 107,019 | $ | - | $ | 13,948 | $ | 83,553 | $ | 97,501
Equity securities: |  |  |  |  |  |  |  |  |  |
| FHLB stock | $ | 57,819 | $ | - | $ | 57,819 | $ | - | $ | 57,819
| FRB stock |  | 94,308 |  | - |  | 94,308 |  | - |  | 94,308
| Other investments |  | 12,976 |  | - |  | 11,076 |  | 5,214 |  | 16,290
Total equity securities | $ | 165,103 | $ | - | $ | 163,203 | $ | 5,214 | $ | 168,417
Loans held-for-sale | $ | 132,395 | $ | - | $ | - | $ | 134,839 | $ | 134,839
Loans not covered under loss sharing |  |  |  |  |  |  |  |  |  |
| agreement with the FDIC |  | 23,702,612 |  | - |  | - |  | 21,883,003 |  | 21,883,003
Loans covered under loss sharing |  |  |  |  |  |  |  |  |  |
| agreements with the FDIC |  | 484,030 |  | - |  | - |  | 465,893 |  | 465,893
FDIC loss share asset |  | 45,192 |  | - |  | - |  | 33,323 |  | 33,323
Mortgage servicing rights |  | 168,031 |  | - |  | - |  | 168,031 |  | 168,031
Derivatives |  | 16,719 |  | - |  | 16,719 |  | - |  | 16,719
|  | December 31, 2017
| Carrying |  |  |  |
(In thousands) | amount | Level 1 | Level 2 | Level 3 | Fair value
Financial Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |
| Demand deposits | $ | 27,938,630 | $ | - | $ | 27,938,630 | $ | - | $ | 27,938,630
| Time deposits |  | 7,514,878 |  | - |  | 7,381,232 |  | - |  | 7,381,232
Total deposits | $ | 35,453,508 | $ | - | $ | 35,319,862 | $ | - | $ | 35,319,862
Assets sold under agreements to |  |  |  |  |  |  |  |  |  |
| repurchase | $ | 390,921 | $ | - | $ | 390,752 | $ | - | $ | 390,752
Other short-term borrowings[2] | $ | 96,208 | $ | - | $ | 96,208 | $ | - | $ | 96,208
Notes payable: |  |  |  |  |  |  |  |  |  |
| FHLB advances | $ | 631,490 | $ | - | $ | 628,839 | $ | - | $ | 628,839
| Unsecured senior debt |  | 446,873 |  | - |  | 463,554 |  | - |  | 463,554
| Junior subordinated deferrable |  |  |  |  |  |  |  |  |  |
| interest debentures (related to |  |  |  |  |  |  |  |  |  |
| trust preferred securities) |  | 439,351 |  | - |  | 406,883 |  | - |  | 406,883
| Capital lease obligations |  | 18,642 |  | - |  | - |  | 18,642 |  | 18,642
Total notes payable | $ | 1,536,356 | $ | - | $ | 1,499,276 | $ | 18,642 | $ | 1,517,918
Derivatives | $ | 14,431 | $ | - | $ | 14,431 | $ | - | $ | 14,431
Contingent consideration | $ | 164,858 | $ | - | $ | - | $ | 164,858 | $ | 164,858

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